SNSS - Earnings call transcript Q3 2017 | Viracta Therapeutics, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the Sunesis Pharmaceuticals Q3 2017 Financial Results and Recent Highlights Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to introduce your host for today’s call, Maeve Conneighton, Investor Relations with Argot Partners.

begin. may You

Maeve Conneighton

review and joining Swisher, for Chief With Dan results. today BTK Regulatory expand of me asset, corporate events; SNS-XXX; Officer; President, third Thank the discussion and and us Chief Dan Affairs; President, Vice President Dan Thomas, Fox, quarter Global upon will Hyare, Judy Executive Company’s are Vice Debbie you Senior financial the today. Oncology recent Operations. Par with XXXX Officer; lead Scientific inhibitor, will will Judy close

then open and will available. the We for call which Par for Debbie be questions will also

Before statements actual remind of forward-looking conference statements which those begin, qualified accurate set on factors are over future expectations today’s that the making as SEC, the call, in the represent filings With to during call we concerning Company’s intentions, that, let by forward-looking to release important update. could we today’s statements. today’s Company’s such from me with to let in and me discussed turn today, the not that or do forth Information be cause forward-looking we press differ intend Dan. materially is and These will beliefs call you events. results

Dan Swisher

shows folks for closely perseverance Maeve. would work where Astros, Houston. good you congratulating does Thanks, like with we joining are. pay in and with to Thanks morning, that Good afternoon, everyone. Houston everyone the I or off, us, depending on down actually start

well-deserved So, championship. them we congratulate on their

BTK enrolling provide CLL. a patients In proof we will malignancies, patient Phase with and as and and serve of lead hope to The concept new planned. other is leukemia in study for a to with Xb/X our relapsed first back treatment of So, initial relapsed program, for SNS-XXX. lymphocytic we in is XXXX designed third proceeding We July, what the study non-covalent by reversible, as B-cell study option to turning continuing the the patients quarter Sunesis. finished chronic dosed proprietary advance inhibitor,

the disease dose-escalation is to BTK characterize cohorts We identify will acquired resistance. CLL multiple efficiently relapsed with this the plan CXXXS to open in ibrutinib work of then trial leading mutations, portion X dose cause including up into patients the to fully trial. in profile, SNS-XXX’s The recommended of Phase to

We presentation provide Saturday, expect on December program an a the Annual additional at following with and event Meeting be up to We’ll during webcast. Atlanta on update the soon Xth. details ASH in investor

data anticipate peer-reviewed at from We conference study also a medical mid-XXXX. the presenting around

we data. PDKX potentially our to Our kinaseX as to including dependent PDKX vitro kinase We our the as of on SGK important that our first-to-clinic from of This inhibitor. and survival and candidate. PI addition SNS-XXX RSK growth PKC, also the including morning SNS-XXX cell studies PDKX announced in selective represents compelling master in pharmacology families. activates known based programs a the beyond as non-GLP continue results nomination in PDKX pipeline make as to nomination on progress kinase inhibitor of is SNS-XXX development favorable toxicology recently and completed inhibitor proprietary the extends inhibitor vivo and members kinases the program. AKT this The

development this on have the to updates milestone we strategy look providing and achieved quarters. We’re to forward our coming pleased in

program. leading recently Capital. in secured investors. kinase well as The public from inhibitor Impact which additional proceeds MPM and from Burrage in Fund, programs life managed by existing pan-RAF Capital Value from the additional of an of with including investors Oncology we offerings funding underwritten TAK-XXX. as we that set inhibitor $XX the Fund the Underscoring ongoing and new Phase strengthens financial our the million sheet clinical opportunity interim and announced kinase study Takeda SNS-XXX. Last resources week, including our science extend from raised are several the gross presentation and our We updates our is pass forward XXXX their our inhibitor of program on For program future clinical key on third Takeda to data milestones runway partner-funded balance early into look our directed Xb/X studies operating and should Biotechnology of

Judy, that, I’m with the call over going now turn So, to SNS-XXX further program. discuss the to to

Judy Fox

ongoing and Thank relapsed healthy important profile acquired BTK and trial in patients States. has frequently Xb study I you, most Phase translate bond ibrutinib point unique potentially and advanced the volunteers potential in active new to comprises overcome CLL in have a it preclinical hematologic mutation may seeing drug resistance into covalent from relapsed a in United open-label, binding Xa treatment conducted as site, adult longer SNS-XXX for which covalent to to malignancies. ibrutinib our is acalabrutinib. Resistance The converting Phase inhibitors a trial other studies Dan. BTK malignancies have or represents cysteine-XXX to sites a therapy, compelling with possible. who We being in serine, Phase the the sequential look other group subjects B-cell prior that progressed forward the cancers covalently after our BTK CLL SNS-XXX of option a arises data B-cell or these target study population from at leading our The the no include making several an Xb inhibitors.

was cohorts, we have within study, of portion CXXX expansion We cohort that specific expressing is SNS-XXX The the confirmed preclinical results mutations. spring determine of portion and and preclinical to The of inactive. the Phase SNS-XXX’s tolerated range SNS-XXX favorable of dose maintains disease dose. drug that dose-escalation the and healthy its is seen a we so AACR pharmacodynamics demonstrated safety highlighting with and/or we that that presented activity which presented study will Phase includes characterize anti-tumor SNS-XXX safety, pharmacokinetics CLL are phase in and at the the And cell encouraging the far this data data maximum study currently a Phase Xb in Xa levels evaluating BTK is further potential ibrutinib a ASH. pharmacokinetics, study enrolling this candidate. CXXXS, patients at of clinical year’s including recommended pharmacodynamics and relapsed monotherapy profile. This at a where activity the The activity Xa last the subjects safety BTK

As Dan update we’ll have mentioned, an at on event program SNS-XXX webcast next hosted the be to a month. at ASH

With potential a call turn areas SNS-XXX’s In robust have addition, back I’ll existing in the we over that, elucidate to of to differentiation further collaborations program translational of therapies. from Dan. therapeutic

Dan Swisher

Judy. Thanks,

$X year-to-date million that and last half other to therapy this operating mentioned, offset with venture XXXX, announced $XX.X year. in going expanding net XXXX. at due highlights decrease million will $X.X compared balance, and this exceed So, financial is to that, million I’m B-cell with stock, sales market has brief ATM. cash million of the resistant $X primarily loan, our of the With in SNS-XXX our repayment was used concept of establish ibrutinib to BTK our through broadly the the of proof treat for malignancies to by was common end B-cell $XX already a beginning and $XX.X acalabrutinib primarily outstanding recap segment It morning, the the near-term the CLL to representing as ended of exceeded by billion acquired $X.X million in having of turn cash potential We the cash quarter activities in estimated disease. and emerging and of position. billion The patient to of the malignancies

and XXth, ATM into October, forma So, facility equivalents sales is raised September are and million the $XX.X previously offering, now This public cash pro Company XXth XXXX. cash, expected in in an through marketable from resulting additional of $XX.X the million. our net securities announced October fund proceeds capital to in

to to that, questions our over call and the turn we’re interactions. forward going to with So, look

Operator

Instructions] with from first comes [Operator Company. Eric & Our question Cowen Schmidt

line open. Your is

Eric Schmidt

my questions. for experienced enrollment? for the Xb and the Great. do the Do just BTK sense they PIs or Maybe for the Phase you status for CXXXS Dan are do update, -- study the enriching of thanks get at patients mutations on or and you Thanks know Judy. that taking

Judy Fox

part seeing that the these And of don’t we patients Phase data but study. are to Xb/X enroll the will So, we whether know of that are collecting enriching, types do are as and the investigators we program. believe

Dan Swisher

as addition Eric, criteria, the have prior a for BTK on just fail they is therapy. to do And -- an

Eric Schmidt

Okay. It has to be BTK?

Dan Swisher

Two or therapies BTK. more prior including

Eric Schmidt

what you And cohort up at stage? disclosing this Dan, dose are you. you’re Thank to

Dan Swisher

patients a therapeutic We’re recommended selection going right portion we’ll Phase What and now. at continuing making good there dose the feel levels. a and consider study, which of good about not we’re dose-escalation to the X doing next progress handful to the test of the a point of data is be year relevant be in that at of is that of

Eric Schmidt

then? to next month, update disclosing ASH terms things in you regard type of program be with might And the what of this

Dan Swisher

why program have and a be want that there we’re no, top It’s study. And do KOLs going the really program around be proprietary very it to -- But, couple We you together. update coming. pull to going name we We’ve it’s we’re share. That’s going to a got of come. status our to important. big, the will a of

So, it. can hope make you

Eric Schmidt

Atlanta. in Thanks see I’ll Okay. again. you

Dan Swisher

Thanks, right. Eric. All

Operator

you. Thank

from the line Birchenough Our question comes Jim next Wells of Fargo. with

open. Your line is

Nick Abbott

a decision year. the from decision Jim. for make of question, your on decision? you’re by made do year make XXXX a going recall up think end follow back you just middle might you hoping of to before by that recommended to or Dan, of now the going Is end Nick X It’s Phase data, communicate, I the the be we to Eric’s Phase recommended think X mid-XXXX the the it the

Dan Swisher

Hey, the year. for toward for Nick. been Phase a in dose-escalation No, some X I now next recommended midyear, mean, portion time we’ve guiding quite dose

pretty to recommended in our July we four to The to takes what’s We going was the active if first cohort. likely to good quickly XX news And patient So, portion. pick to required to typically be to weeks remember, X per Phase escalation five start levels dose. it cohorts dosed are anticipate that is Dana-Farber. you at X dose get dose be in a

Nick Abbott

So, cohort the the active third? second or dose might be

Dan Swisher

But to good we’ve do be the what course, is to the engagement engagement start of target We cohort don’t second the in full across very cohort cycle. really got there see want we is target out dosing a third that good and specific.

Nick Abbott

have Okay. models? XXX And able you preclinical to resistance then, acquired generate in been

Dan Swisher

some about that. to preclinical could of Judy broadly Maybe talk initiatives just approach or our Sure.

Judy Fox

So we developed and models exploring vitro that ongoing. to we been There the ibrutinib is collaborations that have resistance have -- some leveraged with haven’t investigators of models acquired have that resistance with we are mutation. models have what in we’re done some

so And from sometime forward collaborations year. these we data next look to

Nick Abbott

one I on had time XXX. and XXX XXX you then, candidates program, And think potential the at two

I which it select are filing what XXXX? to made XXX was in think what the previously then about guided that you’ve steps occurring and you So, an towards is candidate that IND

Judy Fox

XXX So, we its because therapeutic favorable of chose index.

we And develop so, candidate believe forward. it’s and promising take most to the

the So, studies we IND-enabling and forward will proceeding characterizing be molecule there. further into

Nick Abbott

And might do and know XXXX able you be to when IND? you in file

Dan Swisher

We’re and just setting sort and out our of budget together milestones. our corporate objectives seeing

of pretty number from the to and manufacturing So, a path, forward immigration. toxicology report activities still straight that GLP it’s need all a but through occur the GMP

of new So, an important that always lot interest in. but is we’ve program it had a

the Just tested, that XXX window. we have the therapeutic compound first did had not

So, in XXX. a about the uncertainty degree we of of went with

really can say index it therapeutic take the investment seen we the we’ve worth and that So, got happy the that data, to forward. now all it’s

an is more hearing going program timeline So, lot about and IND. target you’ll this for refined a what including to be be more

Operator

you. Thank

Our comes Fitzgerald. next Cantor Mara question with from Goldstein

Your line is open.

Mara Goldstein

because look on data in resistant mentioned before requirement were question terms Do in on at experience your collect those data? a that it’s will that were patients to just will a you of who to the going who those XXX. -- BTK you all have that you get intolerant, trial, when Just XXX versus patients

Dan Swisher

that. address question, great Judy let It’s I’ll

Judy Fox

into So, patients the we are not enrolling study. the intolerant

they are have this into those -- program stage. and the from patients. looking Once we’ll at sufficient excluded how we whether data, be explore safety So, to

Dan Swisher

taking X -- the it’s are the most So, Phase sick relapsed a in where study we way, patients. some

the of therapy. that we really off BTK shown have have So, they relapsed

Operator

Thank you.

from line Edison Calloway the next the Group. question of Our comes with Nathaniel

open. line is Your

Nathaniel Calloway

Hi.

data is of set resistance recent approval there the itself was different expect drug was there is sort wondering mean, to to up And drug? covalent, know expect that mutation data have on that any activity or With of -- do from that gather reason any guys plans besides against? Calquence, there I if of sort on other any of follow mutations any I reason I there might the you SNS-XXX CXXXS, out question, to have that is what to

Dan Swisher

are in was think Really has will documented I for the have properties pharmacokinetics BTK so binders CLL; longer to bond. that very the their the their New talking make in Thanks to because no with pathway, resistance the that And Journal how mean, they on cases including to and all irreversible pharmaceutical study prior patients continue acalabrutinib they all the questions. of that investigators, have England first those it once they we in able are poor part failures can’t who’ve covalent with paper acalabrutinib. and therapy shut down have had liability. come

of In second data other your and… terms just on mutations question, gathering the

Judy Fox

are all full getting in the into We the molecular profiles entered patients study.

Nathaniel Calloway

be to is we’re mid-XXXX see the And at going going or trial? released of is with to that going that in that data to the the end data be

Dan Swisher

patients updated the very as -- and response. on we it’s is, Yes. program The as pharmacodynamics both well good safety, PK, most science sharing we’ll data-rich very profiles can a and be definitely data news

Nathaniel Calloway

right. there going an was on data vosaroxin one which if that’s I to from wondering on All have on -- was I Great. color ASH be you investigator-sponsored is presented trial. question that data. have some any at final

Dan Swisher

forgotten that. they’re going presenting affairs move leads We’ve forward. child, got an investigators medical Clearly of that to Par, that I’m our opportunity and has and It’s talk working who are some an active with data. vosaroxin. program our to effort, drug who And to let Yes.

Par Hyare

setting, that potential a the No, and the by well. have as front IST. referring an a Yes. Dr. Vanderbilt, of line in Dr. front in you’re they’re about to excited is that Savona leading the and line that global is vosaroxin multisite are as KOLs setting number That’s led effort, of interest IST data Strickland

forward part which is forward standing the second have first we the data looking as it we’re look So, and as out cohort was of well. that to there, data that having patients. first on data getting But that the we and trial, the into as XX just to soon they’re

Nathaniel Calloway

right. Great. That’s Thanks, All guys. me. it for

Dan Swisher

questions. for the All right. Thanks

Operator

in the would are now to for Thank like Dan There questions to turn no Swisher back you. the call further queue. remarks. I over further

Dan Swisher

so of X for LA of everyone fight, But, was participating. hope we thank of or good. look haven’t of a person. And want be we’re That none and couple to we’ll any of great Dodgers forward we’ve got offended a was comments interact -- right, you many or the Atlanta, our lead there, I investigators, to will questions to full I you and great. and team good All have in to are I always I have follow-up, any do you it’d fans, well. be you. if in happy game that as hope

So, Company your pipeline. the and in thanks interest the for

Operator

in Ladies This thank program. conclude you and gentlemen, participating today’s the conference. does for

disconnect. all may a day. have Everyone, You wonderful

Viracta Therapeutics (VIRX) 2 Nov 172017 Q3 Earnings call transcript